Question

Long-term savings strategies include: oa lon oc op setting aside money for an emergency. making a household budget each month. investing money in a 401(k) plan. ‘opening up a low-interest savings account.

Answer 1

Long-term savings strategies include setting aside money for emergencies, making a household budget, investing in a 401(k) plan, and opening a low-interest savings account.

Step-by-step explanation:

Long-term savings strategies include:

1. Setting aside money for an emergency: It is important to have a financial cushion to cover unexpected expenses or job loss.
2. Making a household budget each month: Creating a budget helps track income and expenses, ensuring savings goals are met.
3. Investing money in a 401(k) plan: A 401(k) plan allows individuals to save for retirement, taking advantage of tax benefits and employer matching contributions.
4. Opening up a low-interest savings account: A low-interest savings account provides a safe place to store and grow savings over time.